Homebuyers in the US Hit the Brakes: Record Contract Cancellations in January

In a surprising turn of events, the latest data reveals that American homebuyers canceled their contracts at an unprecedented rate in January 2025. According to recent figures from the Mortgage Bankers Association, the cancellation rate soared to 25%, marking the highest percentage recorded for the month in recent years. This notable shift reflects the increasing apprehension among potential buyers amid rising interest rates and economic uncertainty.

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